Warren Buffett is one of the most successful investor in the world.He had the burning desire to be a stock investor from an early age. He has done odd jobs when he was young from selling newspapers, selling chewing gum and his idea of investing in stocks started when he was just 12 years old. He has been the most influential people in history of stock investing. If you know someone is good at a skill, just follow his foot steps. success comes to people who are positive. What are the top qualities or the top habits that made him to be successful? .
His lessons are simple and if followed religiously, it can make you a successful investor.It is always good to learn from successful masters and it’s a true inspiration for the next generation. There were tough times with the markets every eight years and the teachings of Benjamin Graham, greatly helped him.Success is never outside of you and it’s inside you. It is how you make an idea to reality with your perception. Lets look at the top 5 lessons now,
Search For Guru
His idea of making big with stock investing couldn’t be possible if he didn’t find his mentor “Benjamin Graham”. Buffett found the right person at an early age and his guidelines were practical lessons for him at a later period of his life. Graham’s two popular books The intelligent Investor and Security Analysis are considered to be the bible for investing and improving your finance over time. Investing is a slow process and you have to find the right mentor who is an expert and someone who can teach you easily.
Work is Worship
Most people don’t plan what they want to do, they just want a high paying job. No clue to save that money or plan for things ahead. Quickly they are bored of everything. especially their job,credit cards, payments etc.,.Warren Buffett is going to the same office for more than 50 years. He never gets bored, he understands investing than anyone else on this planet. How could it be if you are paid high salary for eating candies or watching your favorite movie? You will never bored right? Examine your style on how you can stop getting bored about your daily routine. In other terms, find how to find what you are passionate about?
Spend and save
Have a systematic savings plan for your future and it’s easy. How to spend money with joy? Lot of people buy things that aren’t worthy.Imagine you buy a luxurious car but never use it for months. what is the need of putting your money in buying things that don’t require? Each one’s belief will differ, one would consider the car as an investment and other would consider it as an expense.He created this principle long back when he was young. Save the amount of money for future first and spend the rest was his motto .Create a mindset to have check on your expenses. We normally go to a shop and buy all things for the money we got, but end of the month we become empty.
His ideas are very simple and if it’s followed by a CEO, no one would appreciate. He is not attracted in buying fancy gadgets because he consider it as junk. He reads from newspaper and book , not on electronic devices like tablet or laptop. He writes email only once to his employees in a year, imagine the billion dollar company making very less decisions which are productive. There are only few misses in his instructions to his employees in the last 50 years. Keep things simple and stupid!
Long term Learner
All his outlook towards life are long term ideas. Once when he makes a firm decision, he stays for a long period of time until it comes out successful. He considers knowledge as the best investment, he keeps reading 500 pages a day to keep him busy and be a wise man. Once he had no clue about public speaking and he wanted to learn at any cost because he thought it would be of great value some time later. So he enrolled himself with the public speaking course and came out successful. He has framed plans to achieve and developed the mindset to follow them, which is like the SWOT analysis ( Strength, Weakness,Opportunities and Threats)